TMI BlogDeemed income from purchase of shares - purchases at lower price than FMV - addition u/s 69 OR u/s 56...Deemed income from purchase of shares - purchases at lower price than FMV - addition u/s 69 OR u/s 56 (2)(vii)(C) - asset that has been transferred in this transaction in shares, which is covered under the definition of property as per clause (d) of the second proviso to the u/s 56(2)(vii) and FMV in respect of listed shares are the quoted price on the recognized stock exchange - taxable u/s 56(2)(vii) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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